Net Worth Advisory Group Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Net Worth Advisory Group purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,798 shares of the semiconductor company's stock, valued at approximately $357,000.

Other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth approximately $27,000. Lee Danner & Bass Inc. purchased a new position in shares of Marvell Technology in the fourth quarter worth approximately $35,000. Capital Analysts LLC boosted its holdings in shares of Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after buying an additional 241 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth approximately $44,000. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares of the company's stock, valued at approximately $7,818,537.36. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares of the company's stock, valued at approximately $2,138,125. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is currently owned by insiders.

Marvell Technology Stock Down 3.5%

NASDAQ:MRVL traded down $2.45 during mid-day trading on Friday, reaching $67.19. The company's stock had a trading volume of 14,146,733 shares, compared to its average volume of 14,765,209. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock has a fifty day moving average of $60.30 and a 200-day moving average of $85.17. The firm has a market capitalization of $58.04 billion, a PE ratio of -39.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm's revenue for the quarter was up 63.3% compared to the same quarter last year. Equities research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology's payout ratio is -42.11%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MRVL shares. Citigroup lowered their price target on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Cantor Fitzgerald reissued a "neutral" rating and issued a $60.00 target price on shares of Marvell Technology in a report on Friday, May 30th. China Renaissance initiated coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price target on the stock. Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC reduced their price target on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $94.73.

Marvell Technology Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.